You care about your parents, especially now as they approach the age of retirement and start to show signs of aging. You have an itching suspicion that they have not put an estate plan in place. How do you approach this topic with tact?
Devise a strategy with help from MarketWatch. Help your parents enjoy their golden years in United Kingdom without you worrying about them more than necessary.
Ask for a sit-down meeting
From the start, let your parents know what you want to talk to them about. Arrange a meeting at the kitchen table or another setting without distraction. Let them know you love and care about them and want to ensure they have their estate planning affairs in order, so there is no confusion when they pass.
Keep the focus on mom and dad
While your parents may want to do what is best for you and any siblings you have, put and keep the focus on their desires, what makes them most comfortable. For instance, when it comes to something like a medical power of attorney, the opinion that matters most is theirs.
Ensure everyone is on the same page
As your parents note their desires for their estate, mirror their language to better eliminate confusion and reach an understanding regarding their desires. For instance, you can say something like, “So you would like to give me the house because I do not move around a lot like my siblings?”
Look beyond why
No matter what your parents want for their estate, try not to ask them why. Doing so can make them defensive, which can quickly erode the discussion.
This information is only intended to educate and should not be interpreted as legal advice.
